Cards make up one of the most outsourced business operations in the financial services sector. Indeed, a large numbers of banks and card issuers have either outsourced specific functions or their entire their card operations. The primary factors driving such practice have been largely similar to those recorded in the outsourcing sector in general, and include cost reduction, gaining a comparative advantage, access to cheap/skilled labor, a lack of in-house expertise and risk management advantages. Card outsourcing is fast-moving towards the adoption of cloud technology and onshore and nearshore models, driven primarily by cost advantage and government initiatives such as tax benefits. In addition, there is an increased focus on value added services such as behavior analysis and fraud prevention schemes.
This report provides detailed insights into the following topics:
- Card outsourcing models
- Key offshore outsourcing locations
- Emerging trends
- Best practices in vendor management
- Best practices in outsourcing of key business operations related to the card industry
Cards make up one of the most outsourced business operations in the financial services sector. A large numbers of banks and card issuers have either outsourced specific functions or their entire their card operations.
The primary factors driving card outsourcing have been largely similar to those recorded in the outsourcing sector in general, and include cost reduction, gaining a comparative advantage, access to cheap/skilled labor, a lack of in-house expertise and risk management advantages.
Card outsourcing is fast-moving towards the adoption of cloud technology and onshore and nearshore models, driven primarily by cost advantage and government initiatives such as tax benefits respectively. In addition, there is an increased focus on value added services such as behavior analysis and fraud prevention schemes.
Card issuers remain responsible for their business actions, even though the vendor is given the authority to act on their behalf. Outsourced operations must be monitored closely to ensure adherence to a contractual agreement.
One of the best ways of judging the perceived quality of performance is communicating with those firms already doing business with the vendor. Card issuers can also engage in market research and take advice from professional advisors.
Spanning over 74 pages, 12 tables and 39 figures, “ 2020 Foresight Report: Best Practices in Card Outsourcing ” report report provides a comprehensive analysis of the key outsourcing activities in the card industry across the globe and explains the potential scope of outsourcing of key business operations associated with cards along with best practice case examples.
In addition to covering the Strategic Insight into Card Outsourcing, Best Practices in Vendor Management (Client Position in an Outsourcing Relationship, Vendor Selection, Vendor Agreement), Best Practice in Outsourcing Business Operations (Technology, Customer Service, Risk Management and Collections, Operations, Sales and Marketing and Loyalty Programs). The report covers 34 companies; Citibank, Barclays, Bank of America, Chase Bank, Genpact, TCS, Cognizant, Infosys, WNS, Vantiv, CyberSource, Wells Fargo, Intesa Sanpaolo Card, Capital One, American, Express, HDFC ICICI, HEW Federal Credit Union ,Reliance Bank Fiserv, Bank of India, Swisscard AECS AG, Acquirer Systems, Firstsource, Banco Santander, CallCredit, Public Service Credit Union, TSYS, First Data, FIS, Krung Thai Card, Cold Stone Creamery ,American State Bank and Golden Plains Credit Union.
Why You Should Buy This Report
- Gain an comprehensive understanding of the market by reviewing a strategic insight into Card Outsourcing.
- Learn about the best practices in Vendor Management and use this to plan for the future.
- Find out more about the best practices in outsourcing business operations in order to remain as profitable as possible.
- Stay a step ahead of your competitors by gaining an insight into the market through case studies within your industry.
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